Chin wants to buy a small parcel of land.The seller requires a certified check as payment.Chin has a checking account with ABC bank;he prepares a check for the seller and then has the bank certify it.He then presents the check to the seller.Who may now be liable for payment of the amount of the check?

Question

Quizplus · Accepted Answer

If the drawee bank certifies the check,it becomes primarily,or absolutely,liable for paying the check as it reads at the time of its acceptance,and its acceptance discharges the drawer and indorsers who indorsed before the acceptance.

Chin Wants to Buy a Small Parcel of Land